Converting Thai to Malaysian currency

[vagabond48]

I am going to Malaysia and I was wondering where I would get the best exchange rate converting Thai Baht to Malaysian Ringgit, Thailand or Malaysia?

Note: I have plenty of baht on hand so I don't mind converting my baht unless using my US fee free ATM would give me a significantly better rate.

[lopburi3]

It has been a decade but I always exchanged when in Malaysia (as Malaysia Ringit was not legal outside country). Although you could obtain in Hat Yai. When travel by train would use exchange window at border immigration stop for at least enough to cover transport to hotel and then use money changers in Georgetown.

[asiantraveler1]

Try superrich in Bangkok. They have a booth at the airport in bkk but not sure if they change back from bht to another currency.

http://youtu.be/JnDz7TYEzpw

[dabhand]

Try superrich in Bangkok. They have a booth at the airport in bkk but not sure if they change back from bht to another currency.

http://youtu.be/JnDz7TYEzpw

Thanks for the heads up - never knew that they had a branch at the airport.

I see that they are located in the basement, near to the ARL Express Line.

[asanee]

This SR is only there since a few weeks. There is also an outlet now at Phyathai ARL-link to BTS. Both do NOT sell foreign money, only change into THB, min. amount 1000 THB.

If you live in BKk anyway and are near to SR/near BigC and have a large amount, its OK.

However, as regular visitor to MY ive found that IN town moneychangers tend to give slightly better rates as SR does. f.e. lowest floor (near old carrefour, now JusCO) in MidValley mall or several outlets hidden in the backyards of the sentral train stesyen. As always, there is no decent rate at airport/new KLIA2. But you can pay for the fasttrain into sentral with card-not the much cheaper bus (35 vs 10 MR).

[ripstanley]

I was at the airport in September and Super Rich was operating then.

[vagabond48]

I appreciate the suggestions but the issue for me is not where I can exchange THB for MYR but which country I will get the best rate. Besides, I am leaving from Chiang Mai.

Edited January 10, 2015 by vagabond48

[monkey dog]

it seems you are flying from CM? so this will limit you choices. but dont use thai banks for malaysian ringit exchange.

where exactly in malaysia are you going. specific places will give you a better exchange than other places.

SOME PLACES ARE GOOD SOME ARENT and this changes. YOU NEED TO BE MORE SPECIFIC ON YOUR WHERES.

train border stop exchange is no more.

also be aware that both malaysian and thaland have limits on how much of their currency you can cross the border with. more than myr1000 into malaysia is illegal. more than 50000 baht (i think) out of thai is illegal.

there is also a upper limit of total cash of any denomination in both countries 10000usd equivalent for malaysia and 20000usd equivalent for thai

i have always been able to get better from money changers than from atm for this thaibaht-malaysian ringit cross. but once again it is specific money changers not all. and it is doing the exchange in malaysia not in thai. but no doubt there are good specific places in thai too.

Edited January 10, 2015 by monkey dog

[vagabond48]

it seems you are flying from CM? so this will limit you choices. but dont use thai banks for malaysian ringit exchange.

where exactly in malaysia are you going. specific places will give you a better exchange than other places.

SOME PLACES ARE GOOD SOME ARENT and this changes. YOU NEED TO BE MORE SPECIFIC ON YOUR WHERES.

train border stop exchange is no more.

also be aware that both malaysian and thaland have limits on how much of their currency you can cross the border with. more than myr1000 into malaysia is illegal. more than 50000 baht (i think) out of thai is illegal.

there is also a upper limit of total cash of any denomination in both countries 10000usd equivalent for malaysia and 20000usd equivalent for thai

I'll be flying to Penang with a change of planes at KL. I am looking to exchange no more than 30,000 baht.

[monkey dog]

it seems you are flying from CM? so this will limit you choices. but dont use thai banks for malaysian ringit exchange.

where exactly in malaysia are you going. specific places will give you a better exchange than other places.

SOME PLACES ARE GOOD SOME ARENT and this changes. YOU NEED TO BE MORE SPECIFIC ON YOUR WHERES.

train border stop exchange is no more.

also be aware that both malaysian and thaland have limits on how much of their currency you can cross the border with. more than myr1000 into malaysia is illegal. more than 50000 baht (i think) out of thai is illegal.

there is also a upper limit of total cash of any denomination in both countries 10000usd equivalent for malaysia and 20000usd equivalent for thai

I'll be flying to Penang with a change of planes at KL. I am looking to exchange no more than 30,000 baht.

broadway exchange in georgetown penang at the hotel of the same name. but you will have to exchange a smalll amount somewhere to get there. there are many exchanges in that street so satisfy yourself that they are the best on the day.

Edited January 10, 2015 by monkey dog

[phuketrichard]

I always use the exchange place at the top of Chula street in Penang

[vagabond48]

Thanks for the locations in Penang to exchange my money.

But I still would like to know the answer to my question to which the better country to do the exchange.

I know there is a very popular money exchanger in Chiang Mai who may have MYR but it doesn't address whether they will have a better rate than in Malaysia so let me ask a different question.

Right I checked X-Rates and 1000 THB will convert to approx 108 MYR so which country's money exchanger would give me the closest rate to this?

[dean008]

The "tout" on the train has better rates than most in or outside of malaysia.

Re: super rich. Yes they have branches everywhere (well not quite) however the rates on the website are only available at the branch near Big C in central BKK opp central world

[siam2007]

I want to second what DEAN 008 said.

Superrich rates are great ONLY if you change money at their two headquarters.

the exchange rates at the small booths, for example at BTS stations, are usually POOR.

I returned to BKK from my usual XMas-holiday to Europe some days ago and had EURO with me which I needed to exchange. the rates offered by Superrich were THE WORST all over the Siam paragon area, even the regular TMB and SCB outlets at Asok and Siam and even the money changer next to the elevator at Siam Paragon, who usually has the worst rates of all, had better rates.

as it was new-years-period, the main branch of Superich had poor rates too (much larger spread than usual).

I cannot talk for PENANG as I never had the need to change Baht there, but for those arriving at KL, there are two money changers at KL SENTRAL, in the small lane behind the McDo. They offer fair rates, even for Thai Baht with a spread of 3-5% (more popular currencies have a spread of 2-3%).

If you are in KL and want to exchange HUGE amounts of money, head to MIDVALLEY MALL.

On the basement floor there is the equivalent of Thailands Superrich, as those two companies there at the basement at each side of a small escalator have the best rates in the entire country (think of a spread of 0.2 - 0.3% for the $).

But be prepared to wait 20-45 minutes as scores of locals queue up to do their exchange-transactions there at any given hour - which speaks for itself

Edited January 11, 2015 by siam2007